Hello, Students once again your warm welcome at Vocab 24×7. Here you can read Newspaper Editorials Vocab with The Hindu Vocab Daily Dose and learn new The Hindu Editorial Vocabulary (Vocab 24×7 Set 44) on daily basis. Pathantu.com provides “Hindu Editorial Collection”.
A wider net: on the expanding tax base (Newspaper Editorials Vocab 24×7 Set 44)
Hey, readers! I am Anjali Sharma and I warmly welcome you all to our page. I hereby represent the editorial section of “The Hindu” newspaper dated January 31st, 2018. The Editorial discusses what steps should be taken by the Finance Minister, Arun Jaitley to decrease the share of indirect taxes as the tax base is enlarged now.
The demonetization took place in the country and it diminished the value of the currency notes that were earlier holding the highest worth. This step of demonetization somehow instigated the overall tax filling in the country. Due to this the profits in terms of indirect and direct fronts, it is depicting the key objects behind the two major economic positive outcomes. After the note ban it was recorded that about 59 millions of individuals who were filling the income tax returns or the ones whose tax were deducted from the source itself in 2015-16, there was an unseen elevation in the figure of the tax fillers by 10.1 million. According to the survey conducted it was nearly estimated that 1.8 million or 3% of the already existing collators have started paying them off. As reported many tax-payers have their income that is equal to ₹ 2.5-lakh it may act as a doorway for the personal income tax and this will not enlarge the finances by far. It can be assumed that it grips the potent growth as the fresh taxpayer development in their profession. As the personal income tax compilations are anticipated to increase to a significant rise of 2.3% of GDP in 2017-18, in comparison with the 2% between 2013-14 and 2015-16. It is discovered from the economic survey that there is 50% increase in the unique direct taxpayers in the first six months just after the GST was introduced. The Indian Government now craves for a plan that will boost the direct tax graph by curtailing the overall exemptions for professions like farming and those who are deploying the large ardent deflectors. It is required now that the government should appraise the tax base expansion by providing the ‘complaint’ to receive some relaxation in the Budget; it can be also seen as the imposition of high duties on petroleum products. As it is crystal clear that rise in indirect taxes will definitely push the lower middle class and poor groups in the well of poverty.
In addition to this, I am sharing vocabulary from the editorial section which will prove to be a helpful source for our aspirants.
To read the full editorial: http://www.thehindu.com/opinion/editorial/a-wider-net/article22597938.ece
Meaning: something that has minimal significance
Sentence: it was a stripped-down budget that was announced.
Meaning: the particular job or work which someone is doing
Sentence: his vocation is to treat the patients of the hospital that is he is a doctor.
Meaning: a weak spot or point
Sentence: his project report included some minor chinks that turned into major ones.
Meaning: to make it serious
Sentence: His loud comments have exacerbated stress in the negotiation process.
Meaning: to express grief or anger
Sentence: He might have found a solution to his financial woes
Meaning: to remove unwanted parts
Sentence: The budget needs to be pruned.
Meaning: anything that is reduced
Sentence: Funding for the program was slashed.
Meaning: a long that is step taken
Synonym: positive outcomes
Sentence: The Company has matched its competitors stride for stride.
Meaning: term related to treasury
Sentence: the government exchequer were not used for that project.
Sources: The Hindu Editorial
Read Vocab 24×7, Vocab 24×7 Set 44, Newspaper Editorials Vocab, Hindu Editorial Collection for all SSC & IBPS Exams